Five crucial questions to ask at an open home

Attending an open home is an exciting step in the journey to finding your dream property. However, it's not just about walking through the space and imagining your life there - it's also an invaluable opportunity to gather essential information that can help you make an informed decision.

In this blog, Justine Burke, Sales Associate in our Queenstown office, delves into the five key questions to ask that ensures you're making a well-informed investment decision and empower you to navigate the home-buying process with confidence.

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Open homes are vital in any property marketing strategy. They offer prospective buyers convenient access to view a property firsthand, walk the layout, feel the energy of the spaces and ask important questions. 

If you are in the market for a home or investment property, it's important to attend open homes at a wide range of properties, become educated about the local area so you can feel more confident about the property you are interested in.

Here are five crucial questions I recommend asking a selling agent at an open home:

1. "What year was the home built and are there any maintenance or repair issues that require immediate attention?"

It is important to understand how old the home is and what type of maintenance may be required. An 1800’s villa will have a lot more upkeep than a brand-new home and you want to know what level of maintenance is needed to protect your investment. 

2. "How is the home heated and what is its level of thermal efficiency and insulation?"

We live in a cool climate country so having good heating and insulation means you will have a comfortable and warm home - especially over the winter months. For owner-occupiers this is important as you want a home that's efficient to heat and for investors, it's crucial your rental property meets the healthy home standards.

3. "Do you have a full information pack available?"

Having comprehensive information to review off-site will assist you to evaluate whether the property suits your needs and requirements. It can also contain information such as body corporate fees or annual council rates.

4. "What is the current price guide for the property? Do you have information on any recent comparable sales?"

This information will provide insights into the rationale behind the price guide. A comparable sales list can offer clarity and mitigate uncertainties regarding the fair market value of the property. It may also assist in justifying necessary mortgage commitments. 

5. "Will the owner consider selling prior to the end of the campaign?"

Although many properties are advertised to go to Auction or Deadline Sale, many of them are sold before the advertised date. By making an offer that is accepted by the seller before the campaign is finished, you can eliminate competition from other interested parties.